U.S. stocks climbed to fresh record highs. The S&P 500 posted its eighth straight weekly gain.
Futures also moved higher as hopes for a U.S.-Iran agreement added momentum.
One of May's biggest winners is a satellite communications company. It had a muted reaction after missing earnings estimates late last month.
Weeks later, the stock hit fresh 52-week highs. Investors caught on to its long-term aviation, defense and infrastructure prospects.
The stock surged 23.83% in May alone, including a sharp 6.9% jump on Friday. Momentum built following a major strategic acquisition announcement.
Our AI models picked this stock just in time. The portfolio delivered +20% returns for May alone. Premium AI selections are up +195.65% since launch.
These are real-world numbers based on market data. The AI models launched in November 2023.
Which mid-cap stock is surging?
The company is Iridium Communications (NASDAQGS:IRDM). Despite muted earnings reaction, investors recognized its expanding infrastructure, resilient subscriber growth, and aviation opportunities.
Earlier this month, Iridium announced it is acquiring the remaining 61% of Aireon for approximately $367 million plus debt. Aireon operates the world's only space-based aircraft tracking system, monitoring roughly 190,000 flights daily. The deal will add more than $100 million in annual service revenue.
Iridium is just one of our early picks surging in May. ProPicks AI strategies identified several other names with double-digit gains.
How did our AI know to look past the muted earnings reaction? The data highlighted exceptional market performance, price momentum, and valuation upside.
The momentum isn't limited to May breakouts. Longer-term holdings continue extending strong gains.
With June approaching, ProPicks AI models are identifying the next group of stocks with similar momentum. Investors can already access the full list of May picks.
